ITC Q4 net profit rises 9.8% to Rs2,933 crore

Profit for the quarter ended March 31 came in at Rs 2,933 crore ($432.44 million) from Rs 2,669 crore reported a year ago, the company, which also makes biscuits and noodles under the Sunfeast brand, said.

"In view of the aforesaid restructuring of indirect taxes, Total Income from Operations for the quarter and twelve months ended 31 st March, 2018 are not comparable with the previous periods", said ITC.

The company had posted a net profit of Rs 2,669.47 crore in January-March period a year ago, ITC said in a BSE filing.

ITC Hotel Business EBIT stood was up 13 percent on year in quarter at Rs 75.4 crore, while FMCG other EBIT were up 64 percent at Rs 91.2 crore. Net sales, too, reportedly dropped from Rs 14,883 crore to Rs 10, 706 crore in the same period.

The company said the punitive and discriminatory taxation and the regulatory regime continues to exert severe pressure on the domestic legal cigarette industry even as illegal cigarette trade has been growing unabated.

MI post a competitive 186-8 against KXIP in IPL
Earlier, South Africa pacer Dale Steyn also questioned the omission of national teammate David Miller from Punjab's playing XI. He first pulled him for a boundary before reverse-scooping a couple over the keeper's head to reduce the margin to 23 from 12.

On its revenue from hotels business, the company said the growth in segment revenue during the year was subdued at 5.6 per cent reflecting inter alia the overhang of excess room inventory and the impact of highway liquor ban.

At 2:22 PM Shares of ITC today were trading 1.5 percent higher at 286.10 rupees on the National Stock Exchange.

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